Eni, a multinational oil and gas company, says it has been awarded a new exploration license, the Cape Three Points Block 4, located in the Tano basin, offshore Ghana.
The acquisition, according to Eni, will further strengthen the company’s position in the Ghanaian offshore.
The Italian company has been present in Ghana since 2009 where it operates through its subsidiary Eni Ghana.
The Cape Three Points Block 4 license was awarded, following the ratification by the Parliament of Ghana, to a joint venture which involves five companies.
They comprise Eni Ghana (with 42.4691 per cent stake) as operator, Vitol Upstream Tano (with 33.9753 per cent stake), Ghana National Petroleum Corporation (GNPC with 10 per cent stake), Woodfields Upstream Ghana (9.5556 per cent stake) and GNPC Exploration and Production Company (Explorco, four per cent stake).
The new block covers an area of 1,127 square kilometres in water depths ranging from 100 to 1,200 metres and partially surrounds the Offshore Cape Three Points (OCTP) block also operated by Eni.
“In the event of a successful exploration outcome, the block will benefit from the OCTP project infrastructures, currently under development,” Eni said in a satatement.
Eni operates the OCTP project, which involves the integration and synergic development of the various oil and gas discoveries (Sankofa Main, Sankofa East and Gye-Nyame).
The project envisages the development of subsea wells tied-back to a FPSO which will be connected to shore via a gas transport line.
“The OCTP oil production start-up is expected in 2017 while the gas production, which will supply the domestic market for power generation, is expected in 2018,” Eni said.
In Ghana, Eni has also undertaken important social programmes, including a health project in the Western Region for the benefit of a population of over 300,000 people.
By Times Reporter